Paysafe, MoonPay Launch Crypto Payment Gateway for US iGaming

(AsiaGameHub) –   A new collaboration between Paysafe and MoonPay is accelerating the mainstream adoption of cryptocurrency in the U.S. iGaming and daily fantasy sports industries. The partners have introduced “Pay with Crypto,” a solution that lets players deposit funds into their gaming accounts using digital assets.

This integration aims to streamline the conversion process between cryptocurrencies and standard fiat money, facilitating a quicker and more seamless payment process.

The introduction coincides with a period of expanding cryptocurrency ownership across the United States. Approximately 70.4 million American adults currently possess some type of digital asset. According to Paysafe’s own research, this trend is already affecting player habits, as 83% of U.S. bettors have shown interest in funding their iGaming accounts with cryptocurrencies.

To address this demand, the new service permits users to make direct payments with cryptocurrencies like Bitcoin and USD Coin, eliminating the requirement for manual conversion to fiat currency prior to wagering.

Zak Cutler stated that this initiative mirrors a wider change in consumer perception of digital assets. He observed that cryptocurrency is being utilized more frequently as a functional payment tool, not merely an investment, enabling operators to better meet changing user expectations.

Ivan Soto-Wright reinforced this view, highlighting that payments on a blockchain can provide enhanced efficiency over conventional payment systems. He further mentioned that users ought to have the ability to spend their digital assets effortlessly, without manual conversion.

MoonPay’s regulatory compliance, which includes holding licenses like the New York BitLicense, is anticipated to offer a lawful basis for the service’s operation in the U.S. market.

Speed and ease of use continue to be vital in the iGaming sector. By merging their technological expertise, Paysafe and MoonPay seek to provide a more efficient payment process, offering both operators and players increased flexibility in managing fund transfers and usage.